Named to Brandweek's "Hot New Marketers" and Travel Agent's "Most Powerful Women in Travel" Lists

Mahoney Vows to Continue Brand's Momentum. PARSIPPANY, NJ; AUGUST 3, 1998 - Howard Johnson International, Inc.,today announced the appointment of Mary Mahoney as president and CEO of the company. Mahoney becomes the first woman to be named president of a major hotel brand.

"Mary's appointment is a result of her extensive experience in the lodging industry," said John Russell, Chairman and CEO of Cendant's Hotel Division, Howard Johnson's parent company. "Her enthusiasm, energy and knowledge of the industry have gained her the respect of Howard Johnson's International Operators Council (INOC) - which represents all Howard Johnson franchisees - as well as of industry professionals throughout the world."

"This appointment recognizes Mary's achievements, and demonstrates the changing role of women in the hospitality industry*," said Russell. Mahoney was promoted to the position from Vice President of Marketing.

Named to Travel Agent Magazine's "Most Powerful Women in Travel" for two years in a row, as well as to Brandweek's "Next Generation of New Marketers" list, Mahoney, 38, has received numerous awards throughout her career. Due primarily to her efforts, in 1998 the company was presented both the prestigious Adrian Award by the Hotel Sales and Marketing Association International and the ADDY by the American

Advertising Federation.

"I can think of no professional more capable of leading the brand into the millennium than Mary," said outgoing Howard Johnson President and CEO Stephen Phillips.

"Having spent my entire 18-year career in the lodging industry, I am well acquainted with all aspects of hotel franchising and can relate to what our franchisees want," Mahoney said. "I will continue the repositioning and revitalizing of the brand that was begun by Stephen Phillips and has proven so successful."

"I want to thank John Russell and the INOC for their confidence in me and Stephen Phillips for his mentoring and leadership during the brand's renaissance," she said.

Howard Johnson International, Inc. franchises more than 500 Hotels and Inns worldwide, including properties in Canada, Mexico, Israel, Colombia and the United Arab Emirates. To make a reservation at any Howard Johnson, call toll-free in the United States: 800-I-GO-HOJO (1-800-446-4656), or access the chain's Internet web site www.hojo.com. Howard Johnson International, Inc. is a subsidiary of Cendant Corporation CD.

For information on Cendant's Diversity Initiative:

Donna Dozier Gordon

973-496-8543

*Cendant Corporation launched a diversity initiative in the Hotel Division in November 1997 to provide minorities with greater access to hospitality franchise ownership opportunities. Components of the initiative include:

a targeted effort to identify potential minority franchisees and suppliers;

the establishment of a mentor program for high school, vocational and college students;

a commitment to support minority causes through philanthropic giving; and,

a significant allocation of the Hotel Division's advertising budget to minority-owned media firms.

As a result of the initiative, more than 40 franchise agreements with minority licensees have been executed in the last six months. Cendant's Hotel Division has been awarded the highest grade by the NAACP in its

Reciprocity Initiative evaluation of the hospitality industry.

Andrew Miller (Cendant)
Wyndham